Gogo Receiving Unprecedented Demand for Gogo Galileo HDX
Production More Than Doubled to Meet Sales Projections
BROOMFIELD, Colo. â Oct. 14, 2024 â Gogo Business Aviation (NASDAQ: GOGO) is seeing unprecedented demand for Gogo Galileo HDX, the new global broadband Low-Earth-Orbit (LEO) satellite service.
âThe response from the industry for Gogo Galileo HDX is at a fever pitch â thereâs been a tidal wave of demand as we rapidly approach commercial launch,â said Sergio Aguirre, president and chief operating officer for Gogo. âItâs clear the market is hungry for true aviation-grade LEO satellite broadband connectivity for aircraft of any size around the globe.â
The demand for Gogo Galileo HDX is greater than it was for Gogo AVANCE L5, which launched in 2017 and quickly became the most widely adopted and fastest-selling inflight connectivity system in business aviation history.
Demand has accelerated due to growing accessibility of HDX as Gogoâs dealer network has contracted to complete 27 Supplemental Type Certificates (STCs), unlocking a total addressable market of more than 18,000 aircraft globally, many of which have not had access to broadband inflight connectivity prior to Gogo Galileo. Additional STC contracts are expected in the coming weeks.
Gogo has been conducting flight tests of the Gogo Galileo HDX system on a Challenger 300 and it is performing as planned.
Gogo continues to accept purchase orders for the HDX, which is designed to be an easy upgrade to any AVANCE system (AVANCE L3, L5, LX5, SCS).
The highly anticipated service, scheduled to launch later this year, is backed by Eutelsat OneWebâs enterprise-grade LEO network. Designed for mobility, the network will deliver consistent performance with low variability across all routes globally.
A special promotional rebate of $25,000 is also available for a limited time to current Gogo customers operating a legacy air-to-ground system (ATG 1000, 2000, 4000, 5000) when installing AVANCE SCS and HDX.
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About Gogo
Gogo is a leading provider of broadband connectivity services for the business aviation market. We offer a customizable suite of smart cabin systems for highly integrated connectivity, inflight entertainment, and voice solutions. Gogoâs products and services are installed on thousands of business aircraft of all sizes and mission types from turboprops to the largest global jets, and are utilized by the largest fractional ownership operators, charter operators, corporate flight departments and individuals.
As of June 30, 2024, Gogo reported 7,031 business aircraft flying with its broadband ATG systems onboard, 4,215 of which are flying with a Gogo AVANCE L5 or L3 system; and 4,247 aircraft with narrowband satellite connectivity installed. Connect with us at www.gogoair.com.
âGhost is renowned as a uniquely expressive, agile, and self-assured representation of the Rolls-Royce brand. At our clientsâ request, this new Series II iteration remains faithful to these principles, incorporating a potent and uncompromising engine and the essential potential for Bespoke. Meaningful exterior and material updates make an even more expressive and impactful statement. This new generation of Ghost also has extraordinary handling capabilities based on a number of advanced chassis innovations. This secures Ghost Series IIâs status as the most technologically advanced and driver-focused V12 Rolls-Royce ever created â a side of Ghostâs character that our clients increasingly and enthusiastically embrace.â
Chris Brownridge, Chief Executive, Rolls-Royce Motor Cars
âGhost Series II represents the fundamental tenets of Rolls-Royce â serenity, effortlessness and elegance â distilled into an expressive, monolithic form. Our clients asked for a design that would provide a stage for their Bespoke colour and material choices, whether quiet and restrained or bold and expressive. In line with their requirements, Ghost Series II is characterised by meaningful refinements that further enhance the motor carâs standing as a potent canvas for creativity.â
Juliane Blasi, Head of Exterior Design, Rolls-Royce Motor Cars
Rolls-Royce Motor Cars presents Ghost Series II, a powerful, driver-orientated and elegant rendition of the most popular Rolls-Royce nameplate in history. In line with client requests, the subtle evolution of Ghostâs monolithic and self-assured external appearance serves as a potent stage for Bespoke commissions. To extend their choices, clients now have access to interior finishes and features never previously available on Ghost, as well as advanced software technologies that see Bespoke enter the digital world.
BACKGROUND
Ghost is one of the most important Rolls-Royce motor cars of the Goodwood era. The first generation was introduced in 2009 to meet the needs of what was then a completely new category of luxury consumer. These clients, who were predominantly younger than those the marque had spoken to with its initial motor car, Phantom, requested a model that was more approachable and versatile. They also sought a more distilled expression of the Rolls-Royce brand â and crucially, one that would allow them to make their own statements through Bespoke that they would relish driving themselves.
The second-generation Ghost, launched in 2020, advanced these principles significantly. An object lesson in design purity, its surface simplicity hid underlying design, engineering, and craftsmanship of extraordinary complexity â and power. Indeed, it was the most technologically advanced V12 Rolls-Royce ever created when it was introduced. This was based on a number of impulses: to give clients a pure, yet self-assured canvas for Bespoke commissions, underpinned by a uniquely agile, driver-orientated chassis.
Ghost clients immediately recognised the impact that they could make with Bespoke. This heralded an era of experimentation and expression â from the âquiet luxuryâ codes later popularised by the fashion industry, to fearless and bright celebrations of colour. Consequently, Ghost clients invest, on average, 10% of the purchase price of their motor car in Bespoke.
Alongside its aesthetic treatment, the 2020 Ghost also took the crown as the most technologically advanced Rolls-Royce ever created. In particular, its Planar Suspension System, which took engineers 10 collective years to perfect, produced a sensation of âflight on landâ never previously achieved in a motor car. With a 6.75-litre twin-turbocharged V12 petrol engine, plus all-wheel steering and four-wheel drive, Ghost quickly became recognised as the most dynamic, driver-focused model in the Rolls-Royce family and the perfect touring machine. Indeed, clients frequently describe Ghost not as a saloon, but a superlative four-door grand tourer.
When the time came to update Ghost, Rolls-Royce spoke to its clients about their requirements. For them, Ghostâs potential as a platform for personal, as well as engineering dynamism, was central to its appeal. Respecting their wishes, Rolls-Royce made subtle but meaningful design enhancements when forming Ghost Series II, and incorporated the remarkable, uncompromising powertrain that wrote this motor car into Rolls-Royce legend.
âWe are constantly astounded by the diversity of ideas that inform our clientsâ Bespoke concepts, which frequently draw inspiration from materials, finishes and themes they see in other commissions. Spectre Lunaflair is the perfect example of this, exploring the ethereal beauty of a lunar halo and sparked by the client after witnessing a paint finish on another Bespoke motor car. This symbiotic relationship and cross-pollination of ideas is fostering a âvirtuous circleâ of innovation and creativity, which is incredibly important to our team of Bespoke designers, as we focus on delivering unparalleled value to those who entrust us with their vision.â
Martina Starke, Head of Bespoke Design, Rolls-Royce Motor Cars
Rolls-Royce Motor Cars has unveiled the breathtaking Spectre Lunaflair â a Bespoke commission undertaken on behalf of a significant client from the United States. The extraordinary and exquisite highlight of this landmark motor car is the remarkable holographic paint finish that creates a captivating ârainbowâ effect.
The commission takes its inspiration and name from the optical phenomenon of a lunar halo, which appears as a colourful circle of light around the moon. It is caused by moonlight passing through ice crystals in high-altitude cirrus clouds, which act as microscopic prisms: the light refracts creating a spellbinding technicolour ring effect, similar to light passing through a diamond.
Capturing this phenomenon in a Bespoke paint finish required more than one year of experimentation. The paint chemistry, application timings, and base coat were extensively trialled in order to meet the clientâs concept. The final finish is achieved by applying seven layers of lacquer, including a specially formulated pearlescent coat, infused with fine flakes of magnesium fluoride and aluminium. This creates a deep metallic effect under low light that bursts into rainbow technicolour in bright sunshine.
The Spectre Lunaflair concept was partially inspired by another Bespoke masterpiece, the one-of-one Phantom Syntopia. Revealed in 2023, it features a dark iridescent Liquid Noir finish, infused with colour-shifting, mirror-like pigment. Captivated by Phantom Syntopiaâs appearance, the commissioning patron asked the Bespoke Collective to create a light and luminous expression of this concept that reflected their fascination with the lunar halo phenomenon.
This cross-pollination of ideas, where a previous commission directly informs and inspires a completely new concept and story, speaks to the power of Bespoke. For the marqueâs Bespoke Collective of designers, engineers and craftspeople, this virtuous creative circle and interconnection of ideas constantly provides new opportunities for the advancement of their art.
Spectre Lunaflairâs dramatic coachwork is complemented by a fully Bespoke interior. It includes Navy Blue, White, and Peony Pink tones, recalling the spectrum of hues that can be witnessed during a lunar halo. The colour scheme appears on the seats, doors and the Starlight Headliner. This theme is also carried onto the dual-tone steering wheel, with a Navy Blue outer and an Arctic White inner side.
Only one Spectre Lunaflair will ever be produced. The unique Lunaflair paint finish is reserved exclusively for the commissioning patron.
Both parties recently signed a Letter of Intent (LOI) to explore deeper collaboration.
Located in the Baltic Sea off Swedenâs east coast, Gotland is the largest of Swedenâs islands, some 90 km east of the mainland. Region Gotland is passionate about securing more sustainable solutions like âNoemiâ and would like to have at least one commercial operator flying electric aircraft from the island in the future.
âWe are excited to partner with Region Gotland in this groundbreaking initiative as we move towards a greener future,â said Eric Lithun, CEO of Elfly Group. âOur electric seaplane Noemi can create new opportunities for Gotland and showcase the potential of zero-emission solutions in many markets worldwide.  We will contribute to Gotland so that it reaches its goal to start commercial zero-emission flights by 2030.â
Meit Fohlin, Chairman of the Regional Board, Gotland, said: âOne of our biggest regional development requirements is securing good communications to and from the island. We are working actively to get electric flights to Gotland. We are, accordingly, pleased and proud to be able to announce today that with this Letter of Intent we are initiating a deeper collaboration with Elfly Group.â
Maria Fiskerud, project manager at Science Park Gotland, added: âWe have the right environment to prepare for electric aviation together, which in turn can contribute to the development of eco travel, both in the Nordics and beyond. Everything is already in place within the ecosystem â from the airport and its electricity capacity to interested aircraft manufacturers like Elfly, aircraft operators and customers.â
âRolls-Royce Motor Cars Leeds has been an important part of our trusted dealer network ever since JCT joined the Rolls-Royce family in 2018. The opening of this new space is a momentous occasion â it illustrates a bold and exciting step for the brand, bringing the essence of Goodwood to Yorkshire. This new expansive and contemporary space â with its wealth of digital technologies, and sophisticated, elegant design â is the perfect embodiment of the brand. It is the ideal space for the highly professional team to offer patrons a hyper-personalised client experience characterised by luxurious encounters. It really captures the spirit of the marque and brings our visual identity to life, reaffirming our position as a leading House of Luxury.â
Boris Weletzky, Regional Director, United Kingdom, Europe and Central Asia
âAfter adding Rolls-Royce to our stable of luxury car marques in 2018, we were keen to create a new home for it which would do justice to this world-leading brand. Bringing a touch of Goodwood to Yorkshire and the North East, the Leeds showroom is simply stunning. From a multi-media curtain of âdancingâ kinetic lighting to a unique âcabinet of curiositiesâ showcasing our Yorkshire heritage, a visit here is designed to be an engaging experience for customers where they can see the very best of the Rolls-Royce brand.â
Kristian Keighley, Head of Business for Rolls-Royce Motor Cars Leeds, JCT600 Brooklands.
Rolls-Royce has a profound understanding of its clients, their expectations, their needs and their wishes. This is an essential element in the marqueâs ongoing success as a renowned House of Luxury. The new Rolls-Royce showroom in the heart of Yorkshire is the perfect place for clients to learn more about the marque and experience the elegance of the world of Rolls-Royce.
Located in a prominent location in Leeds, this space showcases the marqueâs exquisite products and provides clients with an unparalleled experience, in line with Rolls-Royceâs position as a true global luxury goods brand. The new showroom, with the front doors modelled on Rolls-Royceâs famous Pantheon grille, offers clients a fully immersive brand experience from the moment they enter the building.
Inside, the new showroom exudes cool modern luxury, yet still recognises the importance of heritage for the marque, with citations from the founding fathers of the brand throughout the showroom. The Cabinet of Curiosities, an eclectic mix of intriguing, timeless and legendary design objects, sparks the imagination and client conversations as part of the commission process. It also celebrates the local area with unique objects and books which reflect the legends that hail from Yorkshire.
The pièce de rĂŠsistance, the Atelier, is the place where, with the help of the marqueâs highly skilled and professional team, clients can envisage their dream commission coming to life. Housing some of the marqueâs most exquisite examples of craftsmanship, including wood veneers, leathers, embroidery threads and lambswool samples, in a variety of vivacious hues, the Atelier is a sensory-inspired room; it showcases the marqueâs fluency in Bespoke and luxury. The surface-finish samples are presented in the familiar Rolls-Royce speedform shape, making it easy to imagine the almost endless two-tone colour combinations; the leathers are rolled on wands with handles from Rolls-Royceâs famous umbrellas, while the veneers are shaped like the cross-section of an aerofoil, recalling the aviation exploits of the marqueâs founding father, The Hon. Charles Stewart Rolls.
The remarkable space that is the Leeds showroom is a further sign of the dealershipâs commitment to excellence and extraordinary journey since joining the marque in 2018. In 2020, Rolls-Royce Motor Cars Leeds was honoured to receive the title of âGlobal Whispers Dealerâ. Whisperâs is the marque highly exclusive members only club.
A Rolls-Royce is unapologetically luxurious, it is unmistakable, synonymous with beauty and elegance, a true design icon, and so, in the new Leeds showroom, each model rightfully enjoys its own dedicated space, framed, and is presented according to its distinctive personality and characteristics.
With more than $4.6 billion in originations, Global Jet Capital provides comprehensive financing solutions for the business aircraft market. The Global Jet Capital management team has served the business aircraft industry for a combined 325-plus years. The Company has the expertise, financial strength, industry relationships and infrastructure necessary to offer a variety of flexible financing solutions at the speed the market requires. Visit www.globaljetcapital.com to learn more.
The BJETS 2024-2 offering contained three tranches of notes: a $490.4 million Class A tranche, a $79.4 million Class B tranche, and a $47.3 million Class C tranche. S&P Global Ratings and Kroll Bond Rating Agency LLC assigned BJETS 2024-2 ratings of A/A, BBB+/BBB and BB/BB on the Class A, B and C tranches, respectively. The transaction attracted 37 unique investors, 8 of which were new to the BJETS program.
As with previous BJETS issuances, BJETS 2024-2 securitizes the cash flows from business aircraft loans and leases representing a diverse group of obligors and assets. BJETS 2024-2 includes 29 leases and loans to corporations and global business leaders representing 18 unique industries. Twelve different aircraft models â primarily mid- to large-cabin business aircraft â are represented in the transaction.
BofA Securities was the lead structuring agent and lead bookrunner and Deutsche Bank Securities, Morgan Stanley, Citigroup, KKR Capital Markets and Carlyle were joint structuring agents and joint bookrunners for the BJETS 2024-2 transaction. In addition, Citizens Capital Markets was a co-manager. Global Jet Capital will continue to service the securitized assets.
Vivek Kaushal, CEO of Global Jet Capital, stated:
âWe are pleased with the success of our latest issuance, which underscores the strength of the BJETS securitization program and the strong performance of our previous ABS transactions. As we celebrate the tenth anniversary of our founding, our growing investor base reflects the capabilities of our platform. Weâre also thankful for the ongoing support of our existing lenders and their continued commitment and confidence in our business. This achievement is the direct result of the dedication and hard work of the Global Jet Capital team, and I am grateful for their contributions.â